4 Tips for Moving to a City with a Higher Cost of Living
You may be drawn to a bigger city for a range of reasons – whether it’s due to the urban vibe, culture, proximity to family, job market, college or diverse population. However, big cities come with a bigger price tag and can make it difficult to save money.
If money is not an element, then you won’t have any issue transitioning to city life. But you should note that in almost all big cities, the cost of living comfortably is much higher than the average household income. A report by ADT revealed that metropolitan areas like San Francisco, New York City, Seattle, Washington, Oakland, Arlington, Orange County, Los Angeles-Long Beach, and Honolulu have their cost of living indexes furthest above the national average. Harlingen, McAllen, Richmond, Muskogee, Kalamazoo, Joplin, Memphis, Pryor Creek, Martinsville-Henry County, and Conway, on the other hand, have their cost of living indexes furthest below the national average.
photo/ Clker Free Vector images
So, how do you move from Conway, whose cost of living index is at -17.4% to San Francisco with 91.4% and survive the change? Here are four tips for moving to a city with a higher cost of living:
Don’t settle for the high-end parts of town
You may be used to living in the nicest or second nicest neighborhood in Conway. But if you are moving to San Francisco, it may be a tall order because the houses in these areas are way too expensive than what you used to pay in Conway. Instead, you want to find a place in town with the closest average rent to what you are used to. But don’t forget to find out the kind of amenities you’re being provided with before moving in- like proximity to work and shopping areas, availability of gym, among other perks.
Limit the amounts of times you eat outside
Well, if you are like many people, you’d definitely want to try out different restaurants in the new city, and perhaps do so often. But when you are keen on saving some pocket change in a more expensive city, you shouldn’t eat out all the time. A good idea is to limit eat-outs to a few times in a month. But if you cannot manage this, then work out a budget and spare the amount you want to use on eating out – this will help you avoid overspending at restaurants.
Take advantage of free events
This is a great way to learn about the new city without breaking your bank. Public places like libraries, parks, and museums are perfect for this. You can also make a habit of treating yourself to the free drinks and snacks at your workplace.
Don’t live alone
Staying alone can be peaceful, but if you want to lower your budget, finding a roommate is the best way to cut your rental bill in half. According to an analysis by SmartAsset, someone who shares a two-bedroom apartment with another person gets to save more than $800 every month compared to a renter who lives in a one-bedroom apartment alone.
Author: Lee Sadawski
Make a moving checklist in order to easily keep track of what you have to do
